|
86-- 102368
<br />4. As additional security, Trustor hereby gives to and confers upon Iienefician' the right, power and authority, during the continuance
<br />of thear, Trusts to collect the rents, issues and profits of said property, reserving unto Trustor the right, prior to any default by Trustor
<br />in payment of any indebtedness secured hereby or in performance of any agreement hereunder, to collect and retain such rents, issues
<br />and profits as they become due and payable. Upon any such default, Beneficiary may at any time without notice, either in person, by
<br />agent, or by a receiver to be appointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured,
<br />enter upon and take possession of said property or any part thereof, in his own name sue for or otherwise collect such rents, issues and
<br />profits. including those past due and unpaid, and apply the same upon any indebtedness secured hereby, and in such order as Beneficiary
<br />may determine. The entering upon and taking possession of said property, the collection of such rents, issues and profits and the application
<br />thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice
<br />5. Upon default by Trustor in the payment of any indebtedness secured hereby or in the performance of any agreement contained herein,
<br />all sums secured hereby shall immediately become due and payable at the optic,c of the Beneficiary, In such event and upon written request
<br />of Beneficiary, Trustee shall sell the trust property, in accordance with the Nebraska Trust Deeds Act, at public auction to the highest
<br />bidder. Any person except Trustee may hid at Trustee's sale. Trustee shall apply the proceeds of the sale as follows: t 11 to the expense
<br />of the sale, including a reasonable Trustee's fee: ;21 to the obligation secured by this Deed of Trust: 31 the surplus, if any, shall be distributed
<br />to the persons entitled thereto.
<br />fi. Trustee shall deliver to the purchaser at the sale its deed, without warranty, which shall convey to the purchaser the interest in
<br />the property which Trustor had or had the power to convey at. the time of his execution of this Deed of Trust, and such as he may have
<br />acquired thereafter. Trustee's deed shall recite the facts showing that the sale was conducted in compliance with all the requirements
<br />of law and of this Deed of Trust, which recital shall be prima facie evidence of such compliance and conclusive evidence thereof in favor
<br />of bona fide purchasers end encumbrancer, for value.
<br />7. The power of sale conferred by this Deed of Trust is not in exclusive remedv: Renoficiary map cause tin.; Decd of Trust. to he foreclosed
<br />as a mortgage
<br />H. In the event of the death, incapacity, disability or resignation of Trustee. Rer,eticiary may appoint in wrilong it successor trustee,
<br />and upon the recording of such appointment in the mortgage records of the coumv in which this Deed of Trust is recorded, the successor
<br />trustee shall he vested with all powers of the original trustee. The trustee is not nhhged to not.dp anv party hereto of pending sale under
<br />anv other Deed of Trust or of am action or proceeding in which Trustor. Trustee or tieneficu:ry shill he a pariv unless such action or
<br />- proceeding is brought by the Trustee.
<br />9. This Deed of Trust applies to, Inures to the henefit of. and is landing not only tin the mirtaa hereto, but on their heirs. devisees,
<br />legatees. administrators, executors, successors and assirnis_ The term Reneliciarc- shall mean the holder and owner of the note secured
<br />hereby. whether or not named as Rer.eficiary herein.
<br />10. Request for Notice of Default or Nonce of Sale It is requested that a copy of any Notice of Default or Notice of Sale he mailed to
<br />each person who is named in this Trust Deed at the mailing address of such person as set out above.
<br />NOTICE TO CONSUMER: I. Do not sign this paper before you read it. `L. You are entitled to a copy
<br />of this paper. 3. You may prepay the unpaid balance at any time without penalty and may be entitled
<br />to receive a refund of unearned charges in accordance with law.
<br />Signed this - clay of - -May - -A 1), 19 86
<br />STATE OF NEBRASKA
<br />On this 9 day of - May -_ \.D , iii 86 , before me, the undersigned, a Notary Public, duly
<br />_- -_
<br />commissioned and unfilled for soul nsidink in said counts. personally came. Bruce A. Lorance and Loci -iie E.
<br />y and
<br />anQ_ Wife w n known to be the identical person S whose name S Affixed to the foregoing
<br />instrument as Trustor S_ _ - ,rid acknowledged the same to be their_ col -
<br />untary act and dce:!.
<br />Witness my hand and Notarial Sea) the day and year la x e
<br />r- NNad�An�b
<br />M y Commission expires the $ day EF"
<br />- SHERRFtI Y. WATSON
<br />of February i9 87
<br />-
<br />ublic
<br />STATE OF
<br />County
<br />Entered in Numericai index and filed for record tit the otlicu of the Register of Deeds of said county, the
<br />day of I 19 . at oclock and
<br />minutes %I and duh recorded in Book of
<br />Mortgages page
<br />_ Register of Deeds
<br />9'. +1 E,s�,NF. Depute
<br />- -
<br />U
<br />N�
<br />�l
<br />
|